At the present moment using the EPS metric is a bit tricky since the shipping industry is a cyclical business and is now on the down part of the cycle (we don't know yet if it is the bottom of course).

The same goes for trying to value these companies when the prices go up since then the numbers that some of the valuations throw are unrealistic also (like when the valuation of Euroseas in 2007 went all the way to 21 per share according to Mr. Market).

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